Crypto could pose ‘major’ risk to S.Korea’s financial stability, think tank says
The country’s growing ties to crypto could expose its financial sector to volatility and ‘damage its credibility,’ a researcher says.
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New UK PM, finance minister have previously supported crypto, blockchain
Britain’s new Prime Minister Liz Truss has appointed Kwasi Kwarteng, former head of the U.K.’s department for business, energy and industrial strategy, as the new finance minister, charging him with decisions that will impact British and global crypto markets. See related article: Bank of England calls for greater crypto regulation Fast facts Former Finance Minister…
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Slowdown in crypto interest to continue for rest of the year: KPMG
A slowdown in crypto investment — particularly in firms offering coins, tokens and non-fungible tokens (NFTs) — will continue in the second half of the current year, according to a new report by global audit and consulting firm KPMG. See related article: Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry…
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Crypto influencer collects, then returns, US$100K from investors in fake scheme
Crypto influencer Fatman Terra pitched his own fake investment scheme on Twitter — and found willing investors instantly — in an attempt to educate people about scams in the industry. See related article: Terra’s Mirror Protocol fixes exploit that drained more than US$2 million Fast facts “In two hours, I received over one hundred DMs,”…
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Markets: Bitcoin slumps below US$19,000, Ether drops despite Merge progress
Bitcoin dipped under US$19,000 to the lowest price since mid-June in an across-the-market slump for the top 10 cryptocurrencies by market capitalization in Wednesday morning trading in Asia. Ether also lost ground even though it began one of its last required upgrades on Tuesday before the network Merge expected later this month. See related article:…
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‘Doctor Bitcoin’ claims to be heading to prison for P2P BTC sale
Crypto entrepreneur Mark Hopkins, also known as Doctor Bitcoin” or “Rizzn”, claimed on Twitter that he has been sentenced to six to 15 months in federal prison for allegedly participating in peer-to-peer Bitcoin sales without a federal license. See related article: Tornado Cash arrest heralds storm season for crypto mixers Fast facts P2P sale of…
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Binance move to remove USDC and others raise questions about market conduct
The world’s largest cryptocurrency exchange said the move was designed to “enhance liquidity and capital-efficiency for users.”
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Markets: Bitcoin rises slightly, Ether and Ethereum Classic gain amid price run for alternatives
Bitcoin rose slightly in Tuesday morning trading in Asia after falling below the key resistance line of US$20,000 on Monday morning. Ether posted the greatest gains in the crypto top ten by market cap as the rest of that list rose or fell by less than 1%. See related article: Markets: Bitcoin, Ether edge up;…
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Poolin pauses withdrawals from Pool Accounts, admits liquidity issues
Poolin has paused withdrawals from its wallets known as “Pool Accounts”, the major Bitcoin and cryptocurrency mining pool said in a statement on Monday. See related article: Poolin partners with crypto trading firm Quant Satoshi to expand US business Fast facts A recent surge in withdrawal demand is the primary root of the mining pool’s…
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China to speed up, expand digital yuan smart contracts, PBOC official says
Mu Changchun, head of the central bank’s digital currency institute, says the agency is developing a platform to review and register smart contracts for e-CNY, the country’s new digital currency in trial.